Schwab as a one stop shop

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Topic Author
Jmh04j
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Re: Schwab as a one stop shop

Post by Jmh04j »

Convert the Admiral Shares to ETFs at VG
Schwab told me on a call that they will accept Admiral Shares and that there is no fee to sell. That may be a better move than converting to ETFs as you will then incur a $4.95 brokerage fee when you sell.
Direwolf14
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Re: Schwab as a one stop shop

Post by Direwolf14 »

Jmh04j wrote: Tue Aug 20, 2019 6:56 am
Convert the Admiral Shares to ETFs at VG
Schwab told me on a call that they will accept Admiral Shares and that there is no fee to sell. That may be a better move than converting to ETFs as you will then incur a $4.95 brokerage fee when you sell.
You might have to ask Schwab on the specific VG fund... I believe the admiral funds with 50k minimums may not be accepted (such as the muni-bond funds), but that may have changed since I checked.
typical.investor
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Re: Schwab as a one stop shop

Post by typical.investor »

Jmh04j wrote: Tue Aug 20, 2019 6:56 am
Convert the Admiral Shares to ETFs at VG
Schwab told me on a call that they will accept Admiral Shares and that there is no fee to sell. That may be a better move than converting to ETFs as you will then incur a $4.95 brokerage fee when you sell.
No fee to sell Admiral shares -yeah true. ETF is $5 - yeah true.

When rebalancing, I just don’t like placing the sell order on a mutual fund, waiting for the next day, and then placing the ETF buy order.

That’s a minor point, but the question asked was about buying Vanguard mutual funds. ETFs are clearly better at Schwab or Fidelity I think.
mhalley
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Re: Schwab as a one stop shop

Post by mhalley »

Do I need to thaw equifax plus Chex to open a Schwab bank account?
drk
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Re: Schwab as a one stop shop

Post by drk »

If you’re transferring funds to Schwab, call and ask them for free trades. You don’t need to pay for ETF trades.
Mister A
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Re: Schwab as a one stop shop

Post by Mister A »

I've been at Schwab a year or so for almost everything on my day-to-day spend, although I keep some money in my big name checking as a backup and run some regular payments through a high-yield savings for organizational purposes.

Original attraction was the tie-in to the AmEx ecosystem, since the Schwab card is a nice way to use my points for a decent redemption when I have nothing else to do with them and there's a statement credit based on your Schwab balance.

ATM reimbursement is nice, one less thing to worry about when traveling. Service is solid. Transfers all run smoothly. I use the free SPDR ETFs for a four-fund portfolio since I don't love Schwab's international index funds, and some iShares options.
Topic Author
Jmh04j
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Re: Schwab as a one stop shop

Post by Jmh04j »

I use the free SPDR ETFs
Which ones do you use? I don’t like Schwab’s in-house international line up a whole lot. Curious to see what you use.
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LilyFleur
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Re: Schwab as a one stop shop

Post by LilyFleur »

drk wrote: Mon Aug 26, 2019 12:22 am If you’re transferring funds to Schwab, call and ask them for free trades. You don’t need to pay for ETF trades.
+1
aednichols
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Re: Schwab as a one stop shop

Post by aednichols »

Jmh04j wrote: Mon Aug 26, 2019 12:20 pm
I use the free SPDR ETFs
Which ones do you use? I don’t like Schwab’s in-house international line up a whole lot. Curious to see what you use.
I believe a 1:4 combination of SPEM (Emerging Markets) and SPDW (Developed World) approximates total international.
Mister A
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Re: Schwab as a one stop shop

Post by Mister A »

Jmh04j wrote: Mon Aug 26, 2019 12:20 pm
I use the free SPDR ETFs
Which ones do you use? I don’t like Schwab’s in-house international line up a whole lot. Curious to see what you use.
OneSource now includes a good selection of the SPDR Portfolio line. SPTM (SPDR® Portfolio Total Stock Market ETF), SPDW (SPDR® Portfolio Developed World ex-US ETF), SPEM (SPDR® Portfolio Emerging Markets ETF), and SPAB (SPDR® Portfolio Aggregate Bond ETF), and also short-term and long-term treasury and corporate bond options with ERs around .07%.

They also added iShares muni options like MUB, which satisfied my crankiness about their poor in-house options in that area.
tj
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Re: Schwab as a one stop shop

Post by tj »

Mister A wrote: Mon Aug 26, 2019 12:34 pm
Jmh04j wrote: Mon Aug 26, 2019 12:20 pm
I use the free SPDR ETFs
Which ones do you use? I don’t like Schwab’s in-house international line up a whole lot. Curious to see what you use.
OneSource now includes a good selection of the SPDR Portfolio line. SPTM (SPDR® Portfolio Total Stock Market ETF), SPDW (SPDR® Portfolio Developed World ex-US ETF), SPEM (SPDR® Portfolio Emerging Markets ETF), and SPAB (SPDR® Portfolio Aggregate Bond ETF), and also short-term and long-term treasury and corporate bond options with ERs around .07%.

They also added iShares muni options like MUB, which satisfied my crankiness about their poor in-house options in that area.

Intesrting - I wonder if Schwab Intelligent Portfolios will use SPDR to replace Vanguard as the alternate ETF's.
Topic Author
Jmh04j
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Re: Schwab as a one stop shop

Post by Jmh04j »

SPDR Portfolio line. SPTM (SPDR® Portfolio Total Stock Market ETF), SPDW (SPDR® Portfolio Developed World ex-US ETF), SPEM (SPDR® Portfolio Emerging Markets ETF), and SPAB (SPDR® Portfolio Aggregate Bond ETF), and also short-term and long-term treasury and corporate bond options with ERs around .07%.
Why use these instead of the Schwab versions? The expense ratios are very similar.
drk
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Re: Schwab as a one stop shop

Post by drk »

Jmh04j wrote: Mon Aug 26, 2019 9:09 pm
SPDR Portfolio line. SPTM (SPDR® Portfolio Total Stock Market ETF), SPDW (SPDR® Portfolio Developed World ex-US ETF), SPEM (SPDR® Portfolio Emerging Markets ETF), and SPAB (SPDR® Portfolio Aggregate Bond ETF), and also short-term and long-term treasury and corporate bond options with ERs around .07%.
Why use these instead of the Schwab versions? The expense ratios are very similar.
SPDW and SPEM include small caps, unlike the Schwab versions.
aednichols
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Re: Schwab as a one stop shop

Post by aednichols »

Schwab launched a CD & Treasury auto-roll feature today, saw it advertised on the login page.

To my knowledge, they are only the third outfit that does this for Treasuries besides Fidelity and TreasuryDirect.

https://www.schwab.com/cd-treasury-rollover
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peterinjapan
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Re: Schwab as a one stop shop

Post by peterinjapan »

I like Fidelity, but their inability to offer a target-date fund without a 1% fee is insulting to their customers. Vanguard and Schwab both have super low fees. If I ever move from Fidelity, it will probably be to Schwab.
mervinj7
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Re: Schwab as a one stop shop

Post by mervinj7 »

peterinjapan wrote: Wed Jan 22, 2020 12:41 am I like Fidelity, but their inability to offer a target-date fund without a 1% fee is insulting to their customers. Vanguard and Schwab both have super low fees. If I ever move from Fidelity, it will probably be to Schwab.
I'm assuming you haven't looked at Fidelity's Freedom Index Funds. Here's an example. ER is 0.12%.

https://fundresearch.fidelity.com/mutua ... /315793869

Here's the rest. I got the link from the Bogleheads wiki page.

https://www.fidelity.com/fund-screener/ ... nv=LS10000
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rterickson
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Re: Schwab as a one stop shop

Post by rterickson »

Fidelity has managed target date funds that weigh in at 0.75% ER, but the investor class of index target date funds start at 0.12%.
jubby288
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Re: Schwab as a one stop shop

Post by jubby288 »

I wonder when TDA users can expect to be converted to Schwab's platform

JB
pj1983
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Re: Schwab as a one stop shop

Post by pj1983 »

jubby288 wrote: Thu Jan 23, 2020 10:43 am I wonder when TDA users can expect to be converted to Schwab's platform

JB
One data point : I had a brief chat with a TDA rep last week; don't expect anything anytime soon as there's still plenty of regulatory and approval hurdles yet to be overcome.
ronako
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Re: Schwab as a one stop shop

Post by ronako »

I'm glad Schwab finally has more real-time alerts for the Checking account. It must have been added recently. The last thing that would make this a near perfect checking account is if they reimburse ATM fees sooner rather than at the end of the month.
bayview
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Re: Schwab as a one stop shop

Post by bayview »

ronako wrote: Wed Jun 17, 2020 7:19 pm I'm glad Schwab finally has more real-time alerts for the Checking account. It must have been added recently. The last thing that would make this a near perfect checking account is if they reimburse ATM fees sooner rather than at the end of the month.
Thanks for your review.

I have to gently push back against this: “The last thing that would make this a near perfect checking account is if they reimburse ATM fees sooner rather than at the end of the month.“

How much, in real dollars rather than percentages, are we talking about here? Annual APR divided by 12, applied on (let’s say) the twelfth of the month vs on the 31st. Can this cost be considered a convenience fee for a system that otherwise works?
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softwaregeek
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Re: Schwab as a one stop shop

Post by softwaregeek »

I have accounts at several (most?) institutions that are frequently mentioned here.

Schwab has the best checking account, hands down, with no minimum balance. Free international ATM with great exchange rates. Unlimited ATM rebates globally. The big banks will in some cases match with $250k balance, but not exceed.

When I opened up a Chase CPC checking, hey, free checks. Oh, $11 shipping? That's not free. Schwab even includes shipping.

Rates are better than most checking accounts, although not as good as a MMF like Fidelity.

Service at Schwab is, in my opinion, the best in the industry, far ahead of anyone else.

That being said, I've moved most of my assets to Merrill Edge. They bought my business with mortgage refinance discounts and account move bonuses
abracadabra11
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Re: Schwab as a one stop shop

Post by abracadabra11 »

Is anyone able to do automatic monthly investments into Vanguard mutual funds at Schwab?

I recently moved some of my accounts to Schwab for a promotion and to try out their platform. Thus far, I'm not a fan of their interface, and I'll admit that this is partially due to being a Vanguard customer for many years, but there are several things that I've found that I definitely dislike:
1. Automatic monthly investments don't appear to be possible with Vanguard mutual funds. I'll call and talk to a service representative when I get a chance to try and sort this out.
2. Need two transactions to execute a trade (1. Trade, 2. Transfer money from External Account)
3. Automatic monthly investments only executable on 5th and 20th of each month (this isn't really too problematic, but prefer flexibility)

#2 is probably not an issue for those that keep their checking account with Schwab, but I prefer to have segmentation between investments and banking.
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Nate79
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Re: Schwab as a one stop shop

Post by Nate79 »

abracadabra11 wrote: Thu Jul 09, 2020 10:16 pm Is anyone able to do automatic monthly investments into Vanguard mutual funds at Schwab?

I recently moved some of my accounts to Schwab for a promotion and to try out their platform. Thus far, I'm not a fan of their interface, and I'll admit that this is partially due to being a Vanguard customer for many years, but there are several things that I've found that I definitely dislike:
1. Automatic monthly investments don't appear to be possible with Vanguard mutual funds. I'll call and talk to a service representative when I get a chance to try and sort this out.
2. Need two transactions to execute a trade (1. Trade, 2. Transfer money from External Account)
3. Automatic monthly investments only executable on 5th and 20th of each month (this isn't really too problematic, but prefer flexibility)

#2 is probably not an issue for those that keep their checking account with Schwab, but I prefer to have segmentation between investments and banking.
There are fees to buy Vanguard mutual funds at Schwab (though there have been some posters who asked and got free trades for some funds). It is really bizarre to move to Schwab of you still want to buy Vanguard mutual funds.
abracadabra11
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Re: Schwab as a one stop shop

Post by abracadabra11 »

Nate79 wrote: Thu Jul 09, 2020 10:28 pm
abracadabra11 wrote: Thu Jul 09, 2020 10:16 pm Is anyone able to do automatic monthly investments into Vanguard mutual funds at Schwab?

I recently moved some of my accounts to Schwab for a promotion and to try out their platform. Thus far, I'm not a fan of their interface, and I'll admit that this is partially due to being a Vanguard customer for many years, but there are several things that I've found that I definitely dislike:
1. Automatic monthly investments don't appear to be possible with Vanguard mutual funds. I'll call and talk to a service representative when I get a chance to try and sort this out.
2. Need two transactions to execute a trade (1. Trade, 2. Transfer money from External Account)
3. Automatic monthly investments only executable on 5th and 20th of each month (this isn't really too problematic, but prefer flexibility)

#2 is probably not an issue for those that keep their checking account with Schwab, but I prefer to have segmentation between investments and banking.
There are fees to buy Vanguard mutual funds at Schwab (though there have been some posters who asked and got free trades for some funds). It is really bizarre to move to Schwab of you still want to buy Vanguard mutual funds.
I made the swap after Schwab agreed to exempt the accounts for any fees associated with buying Vanguard funds.
seymore92
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Re: Schwab as a one stop shop

Post by seymore92 »

abracadabra11 wrote: Fri Jul 10, 2020 12:27 pm
Nate79 wrote: Thu Jul 09, 2020 10:28 pm
abracadabra11 wrote: Thu Jul 09, 2020 10:16 pm Is anyone able to do automatic monthly investments into Vanguard mutual funds at Schwab?

I recently moved some of my accounts to Schwab for a promotion and to try out their platform. Thus far, I'm not a fan of their interface, and I'll admit that this is partially due to being a Vanguard customer for many years, but there are several things that I've found that I definitely dislike:
1. Automatic monthly investments don't appear to be possible with Vanguard mutual funds. I'll call and talk to a service representative when I get a chance to try and sort this out.
2. Need two transactions to execute a trade (1. Trade, 2. Transfer money from External Account)
3. Automatic monthly investments only executable on 5th and 20th of each month (this isn't really too problematic, but prefer flexibility)

#2 is probably not an issue for those that keep their checking account with Schwab, but I prefer to have segmentation between investments and banking.
There are fees to buy Vanguard mutual funds at Schwab (though there have been some posters who asked and got free trades for some funds). It is really bizarre to move to Schwab of you still want to buy Vanguard mutual funds.
I made the swap after Schwab agreed to exempt the accounts for any fees associated with buying Vanguard funds.
How?
abracadabra11
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Re: Schwab as a one stop shop

Post by abracadabra11 »

seymore92 wrote: Fri Jul 10, 2020 12:34 pm
abracadabra11 wrote: Fri Jul 10, 2020 12:27 pm
Nate79 wrote: Thu Jul 09, 2020 10:28 pm
abracadabra11 wrote: Thu Jul 09, 2020 10:16 pm Is anyone able to do automatic monthly investments into Vanguard mutual funds at Schwab?

I recently moved some of my accounts to Schwab for a promotion and to try out their platform. Thus far, I'm not a fan of their interface, and I'll admit that this is partially due to being a Vanguard customer for many years, but there are several things that I've found that I definitely dislike:
1. Automatic monthly investments don't appear to be possible with Vanguard mutual funds. I'll call and talk to a service representative when I get a chance to try and sort this out.
2. Need two transactions to execute a trade (1. Trade, 2. Transfer money from External Account)
3. Automatic monthly investments only executable on 5th and 20th of each month (this isn't really too problematic, but prefer flexibility)

#2 is probably not an issue for those that keep their checking account with Schwab, but I prefer to have segmentation between investments and banking.
There are fees to buy Vanguard mutual funds at Schwab (though there have been some posters who asked and got free trades for some funds). It is really bizarre to move to Schwab of you still want to buy Vanguard mutual funds.
I made the swap after Schwab agreed to exempt the accounts for any fees associated with buying Vanguard funds.
How?
I simply asked. Originally asked for several fund families, but they were only willing to do 1, so I went with Vanguard.
snailderby
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Re: Schwab as a one stop shop

Post by snailderby »

Does anyone think Schwab will ever offer consumer-facing HSAs? They already have an HSA brokerage window (https://www.schwab.com/hsba). And they recently started offering access for registered investment advisors (https://www.businesswire.com/news/home/ ... age-Health).
snailderby
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Re: Schwab as a one stop shop

Post by snailderby »

Also, can anyone comment on Schwab's credit card integration? Can you view credit card balances and transactions directly in Schwab's website, or do you have to go to AmEx's website to do that? Thanks!
Direwolf14
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Re: Schwab as a one stop shop

Post by Direwolf14 »

snailderby wrote: Mon Jul 13, 2020 1:08 pm Also, can anyone comment on Schwab's credit card integration? Can you view credit card balances and transactions directly in Schwab's website, or do you have to go to AmEx's website to do that? Thanks!
I believe you can only view the current balance, total MR points, Schwab bonus paid YTD, and one other thing. Have to go to Amex for transactions, etc.
investor997
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Re: Schwab as a one stop shop

Post by investor997 »

Can anyone comment on how well Schwab supports P2P payment systems, i.e. Zelle, PayPal, Venmo? I'm particularly interested in compatibility between Zelle and Schwab. I've Googled this quite a bit and the results seem to be mixed.
ilan1h
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Re: Schwab as a one stop shop

Post by ilan1h »

Schwab is outstanding. Their customer service is second to none. I think they are also somewhat more available than Vanguard (weekends, nights etc). I am always amazed at how every individual who answer the phone at Schwab always knows the exact answer to my question no matter how complex it is. For example, 10pm at night and I randomly call Schwab to ask them about wiring a sum of money to a Romanian bank. No problem! They have excellent employees and will go the extra mile. When I asked them about estate planning they put me in touch with an estate planner. When I asked them about bonds, they put me in touch with a dedicated person at Schwab who deals with bonds. Their 2 factor authentication is more sophisticated than Vanguard in my opinion. If you are a larger client they give you a few more services also.
tj
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Re: Schwab as a one stop shop

Post by tj »

If you are a larger client they give you a few more services also.
What types of services? How large?
BogleFan510
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Re: Schwab as a one stop shop

Post by BogleFan510 »

removed
Last edited by BogleFan510 on Fri Jul 09, 2021 7:33 pm, edited 1 time in total.
ilan1h
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Re: Schwab as a one stop shop

Post by ilan1h »

tj wrote: Mon Nov 16, 2020 7:28 pm
If you are a larger client they give you a few more services also.
What types of services? How large?
I can't fully answer that question. I just know that at a certain point they assign people to your account and they help you out with various problems that you may have. For example, they helped me transfer a vanguard fund back to vanguard so I could get admiral status, then they helped me transfer it back. They waived various trading charges on Vanguard mutual funds (usually $50). They set me up with an estate planner and a bond specialist etc. They will occasionally offer a promotion if you transfer very large sums of money to them etc. They go the extra mile. Vanguard is a wonderful company but you get exactly the same kind of treatment whether your account is $500 or $5 million. People who like a little bit of pampering and have large accounts will feel the difference.
Wrench
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Re: Schwab as a one stop shop

Post by Wrench »

ilan1h wrote: Mon Nov 16, 2020 6:59 pm Schwab is outstanding. Their customer service is second to none. I think they are also somewhat more available than Vanguard (weekends, nights etc). I am always amazed at how every individual who answer the phone at Schwab always knows the exact answer to my question no matter how complex it is. For example, 10pm at night and I randomly call Schwab to ask them about wiring a sum of money to a Romanian bank. No problem! They have excellent employees and will go the extra mile. When I asked them about estate planning they put me in touch with an estate planner. When I asked them about bonds, they put me in touch with a dedicated person at Schwab who deals with bonds. Their 2 factor authentication is more sophisticated than Vanguard in my opinion. If you are a larger client they give you a few more services also.
I had a similar experience. Received a K1 from an LLP I held in an IRA. Tax form must be filed, but has to be filed by trustee, in this case, Schwab. Called Schwab one night at ~10 PM and asked what to do. They knew EXACTLY what I was talking about, immediately transferred me to someone who could handle it, he gave me a fax number to send the forms, which I did. About a week for so later, I got a copy of the filed return.

I will also note in my experience Schwab seems to be a bit better than Fidelity on technology. They adopted 2FA with Symatec VIP long before Fidelity (vanguard STILL hasn't). When I got a new phone, I could deactivate the old, and activate the new online. I had to call Fidelity. These are small things, but it just gives me a sense they are a bit ahead of Fido on technology.

Wrench
tj
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Re: Schwab as a one stop shop

Post by tj »

ilan1h wrote: Mon Nov 16, 2020 8:17 pm
tj wrote: Mon Nov 16, 2020 7:28 pm
If you are a larger client they give you a few more services also.
What types of services? How large?
I can't fully answer that question. I just know that at a certain point they assign people to your account and they help you out with various problems that you may have. For example, they helped me transfer a vanguard fund back to vanguard so I could get admiral status, then they helped me transfer it back. They waived various trading charges on Vanguard mutual funds (usually $50). They set me up with an estate planner and a bond specialist etc. They will occasionally offer a promotion if you transfer very large sums of money to them etc. They go the extra mile. Vanguard is a wonderful company but you get exactly the same kind of treatment whether your account is $500 or $5 million. People who like a little bit of pampering and have large accounts will feel the difference.
It's too bad that they don't publicize how large your account needs to be to take advantage of the perks.
investor997
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Re: Schwab as a one stop shop

Post by investor997 »

BogleFan510 wrote: Mon Nov 16, 2020 8:00 pm
investor997 wrote: Mon Nov 16, 2020 6:33 pm Can anyone comment on how well Schwab supports P2P payment systems, i.e. Zelle, PayPal, Venmo? I'm particularly interested in compatibility between Zelle and Schwab. I've Googled this quite a bit and the results seem to be mixed.
I've received Zelle payments at Schwab bank, using the ATM as the account. Seems getting the ATM card and a checking acct at the bank and using that as the link is the best route. We had no problems.
As best as I can tell, Zelle limits outbound transfers to $500 per week for accounts which aren't direct with the institution and which require linking via debit card (i.e., Schwab fits into this category). It's not necessarily a dealbreaker but it's a step back from the native Zelle support I have now with BofA.
makeminemichael
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Re: Schwab as a one stop shop

Post by makeminemichael »

Anyone have any more recent thoughts on Charles Schwab as a one stop shop for all your money needs?
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ThereAreNoGurus
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Re: Schwab as a one stop shop

Post by ThereAreNoGurus »

makeminemichael wrote: Tue Feb 09, 2021 1:51 am Anyone have any more recent thoughts on Charles Schwab as a one stop shop for all your money needs?
As other posters have said, each shop has advantages and disadvantages so I don't use just one. For travel I like Schwab's no fee debit card when withdrawing cash from ATM's. But use Fidelity's 2% cash-back credit card with 1% trans charge on credit card purchases overseas.

As mentioned, each outfit has different types of services available. I use both. I realize some prefer having all their eggs in one basket. I prefer to have mine spread out, a tad, in case technical difficulties arise with one. For example, sometimes an ATM may not accept one outfit's card for some reason, so I use another. I like having back-up.
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radiowave
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Re: Schwab as a one stop shop

Post by radiowave »

makeminemichael wrote: Tue Feb 09, 2021 1:51 am Anyone have any more recent thoughts on Charles Schwab as a one stop shop for all your money needs?
Just transitioning to Schwab to consolidate 4 accounts into one brokerage. CSR has been outstanding so far, they answer the phone in less than 10 minutes, sometimes immediately and know where I am calling from (guess it's my cell phone number). I had a few minor issues setting up the account that were fixed in near real-time (one was putting a special symbol in my pw which wasn't allowed). right now there is a $500 bonus for setting up new accounts, one per person so $1k for DW and I for the rollover IRAs. I'm considering the AMEX Schwab card as well at 1.5% across the board. Will check back in a few weeks.
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drummerboy
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Re: Schwab as a one stop shop

Post by drummerboy »

Schwab as a one stop shop is a great choice. Low fees, great customer service, fantastic checking account.

The Amex Platinum perk is great too once your assets grow. Getting $100 to $200 off a year makes this card very affordable with a lot of perks for traveling.

The only thing Schwab doesn't have is their own HSA. Other than that, they have a great platform. If we weren't in a weird low-yield environment, their savings account and purchased money market funds would easily match a high-yield savings account.
Thefinancialhobbyist
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Re: Schwab as a one stop shop

Post by Thefinancialhobbyist »

radiowave wrote: Sat Feb 13, 2021 4:42 pm
makeminemichael wrote: Tue Feb 09, 2021 1:51 am Anyone have any more recent thoughts on Charles Schwab as a one stop shop for all your money needs?
Just transitioning to Schwab to consolidate 4 accounts into one brokerage. CSR has been outstanding so far, they answer the phone in less than 10 minutes, sometimes immediately and know where I am calling from (guess it's my cell phone number). I had a few minor issues setting up the account that were fixed in near real-time (one was putting a special symbol in my pw which wasn't allowed). right now there is a $500 bonus for setting up new accounts, one per person so $1k for DW and I for the rollover IRAs. I'm considering the AMEX Schwab card as well at 1.5% across the board. Will check back in a few weeks.
I have the AMEX Charles Schwab Platnum, Gold, and the AMEX Blue Business Plus Card. I suggest if you have a business or "side-hustle," just going with the BBP and getting 2.5% cashback (2x MR x 1.25 CS conversion) over the 1.5% across the board. You can always PM/DM me for specific questions as I log back into my account regularly now, lol.

Where did you transition from?
sfnerd
Posts: 317
Joined: Tue Apr 08, 2014 1:16 am

Re: Schwab as a one stop shop

Post by sfnerd »

Both Fidelity and Schwab are awesome. I have both, but all new funds go to Schwab because I live abroad, and Schwab is by far the best for expats. Refunded international ATM fees, no hassle with international logins, and great security.

That said, I like Fidelity's tech slightly more, and when I was in the US I really enjoyed their products.

If you live a global life (more than one international trip per year or live abroad) Schwab is the clear choice for me, and if not either of them works pretty well.
radiowave
Posts: 2758
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Re: Schwab as a one stop shop

Post by radiowave »

Thefinancialhobbyist wrote: Thu Feb 25, 2021 1:19 am
radiowave wrote: Sat Feb 13, 2021 4:42 pm
makeminemichael wrote: Tue Feb 09, 2021 1:51 am Anyone have any more recent thoughts on Charles Schwab as a one stop shop for all your money needs?
Just transitioning to Schwab to consolidate 4 accounts into one brokerage. CSR has been outstanding so far, they answer the phone in less than 10 minutes, sometimes immediately and know where I am calling from (guess it's my cell phone number). I had a few minor issues setting up the account that were fixed in near real-time (one was putting a special symbol in my pw which wasn't allowed). right now there is a $500 bonus for setting up new accounts, one per person so $1k for DW and I for the rollover IRAs. I'm considering the AMEX Schwab card as well at 1.5% across the board. Will check back in a few weeks.
I have the AMEX Charles Schwab Platnum, Gold, and the AMEX Blue Business Plus Card. I suggest if you have a business or "side-hustle," just going with the BBP and getting 2.5% cashback (2x MR x 1.25 CS conversion) over the 1.5% across the board. You can always PM/DM me for specific questions as I log back into my account regularly now, lol.

Where did you transition from?
I'm retiring later this year so no side gigs. But 1.5% for the Schwab AMEX fills in the gaps between the 5% rotating card and 3% gas/groceries cards.

Leaving VG and TIAA, different reasons for both but so far still very happy w Schwab.
Bogleheads Wiki: https://www.bogleheads.org/wiki/Main_Page
Thefinancialhobbyist
Posts: 12
Joined: Thu Apr 09, 2020 9:10 pm

Re: Schwab as a one stop shop

Post by Thefinancialhobbyist »

radiowave wrote: Thu Feb 25, 2021 1:02 pm
Thefinancialhobbyist wrote: Thu Feb 25, 2021 1:19 am
radiowave wrote: Sat Feb 13, 2021 4:42 pm
makeminemichael wrote: Tue Feb 09, 2021 1:51 am Anyone have any more recent thoughts on Charles Schwab as a one stop shop for all your money needs?
Just transitioning to Schwab to consolidate 4 accounts into one brokerage. CSR has been outstanding so far, they answer the phone in less than 10 minutes, sometimes immediately and know where I am calling from (guess it's my cell phone number). I had a few minor issues setting up the account that were fixed in near real-time (one was putting a special symbol in my pw which wasn't allowed). right now there is a $500 bonus for setting up new accounts, one per person so $1k for DW and I for the rollover IRAs. I'm considering the AMEX Schwab card as well at 1.5% across the board. Will check back in a few weeks.
I have the AMEX Charles Schwab Platnum, Gold, and the AMEX Blue Business Plus Card. I suggest if you have a business or "side-hustle," just going with the BBP and getting 2.5% cashback (2x MR x 1.25 CS conversion) over the 1.5% across the board. You can always PM/DM me for specific questions as I log back into my account regularly now, lol.

Where did you transition from?
I'm retiring later this year so no side gigs. But 1.5% for the Schwab AMEX fills in the gaps between the 5% rotating card and 3% gas/groceries cards.

Leaving VG and TIAA, different reasons for both but so far still very happy w Schwab.
Well, sounds good to me, and congrats on retirement later this year!!
guppyguy
Posts: 223
Joined: Tue Jan 30, 2018 4:24 pm

Re: Schwab as a one stop shop

Post by guppyguy »

I currently do all banking/cc thru Alliant and all investments thru Schwab but am thinking about consolidating them with Schwab, except for the fact that the difference between their checking/interest/CC rewards cash back is so wide.

What ways have people found to mitigate this? I read short bond funds instead of a HYSA as one solution.

Just trying to decide if it is worth it.
lostdog
Posts: 4616
Joined: Thu Feb 04, 2016 2:15 pm

Re: Schwab as a one stop shop

Post by lostdog »

At Vanguard I can see my wife's and my accounts on my interface. I can also do trades on her IRA. Does Schwab allow for the same setup?

If I open a checking account at Schwab, will I also see the checking account on the same interface?
Global Stocks (VTI+VXUS) | U.S. Bond Fund (BND).
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anon_investor
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Joined: Mon Jun 03, 2019 1:43 pm

Re: Schwab as a one stop shop

Post by anon_investor »

guppyguy wrote: Wed Nov 24, 2021 10:47 pm I currently do all banking/cc thru Alliant and all investments thru Schwab but am thinking about consolidating them with Schwab, except for the fact that the difference between their checking/interest/CC rewards cash back is so wide.

What ways have people found to mitigate this? I read short bond funds instead of a HYSA as one solution.

Just trying to decide if it is worth it.
Is it that difficult to keep both Alliant and Schwab. Alliant can give you 2 things Schwab can't currently come close to: 2.5% cash back CC and 0.55% APY on your cash plus FDIC insurance. I would keep both.
UpperNwGuy
Posts: 6699
Joined: Sun Oct 08, 2017 7:16 pm

Re: Schwab as a one stop shop

Post by UpperNwGuy »

guppyguy wrote: Wed Nov 24, 2021 10:47 pm I currently do all banking/cc thru Alliant and all investments thru Schwab but am thinking about consolidating them with Schwab, except for the fact that the difference between their checking/interest/CC rewards cash back is so wide.

What ways have people found to mitigate this? I read short bond funds instead of a HYSA as one solution.

Just trying to decide if it is worth it.
A better solution is not to consolidate. Keep your banking at Alliant and your investing at Schwab, and you will have the best of both worlds. Simplification is overrated. One stop shops never give you the best of everything.
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